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Fulton County election changes Election officials in Fulton County say they have made significant changes and will once again operate a “solid” and “safe” election for the residents of Georgia’s largest county. ATLANTA – Election officials in Fulton County say they have made significant changes and will once again operate a solid and safe election…
According to U.S. federal and state governments, Big Tech has been behaving badly — or, several cases, monopolistically.
Not that scrutiny from attorneys general, along with the Department of Justice and Federal Trade Commission, over matters like privacy, monopolistic practices or social harms is new. Over the years, tech titans have incurred costly fines in the millions, even billions at times.
But punitive measures hardly seem to have slowed their roll. Big fines were just the cost of doing business.
Today, the stakes are higher. Attempts to restrain large tech companies are taking aim at core parts of the business — which, according to a fresh round of earnings wins, are channeling gargantuan revenue hauls.
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Just ask Google, which could be facing a breakup, or TikTok, which is fighting a potential U.S. ban in January unless it finds a new owner.
Tougher scrutiny and bolder efforts to hold companies accountable have made it crunch time for Big Tech — and perhaps others that rely on them, including e-commerce, fashion and practically everyone else.
But how that will work out now is anyone’s guess.
Timing may matter in a presidential election year, when Big Tech’s influence loomed particularly large in the race for viral moments, fundraising and more. Meanwhile, the fate of FTC Chair Lina Khan — a pick of President Joe Biden who has been particularly aggressive in reining in large tech companies and also Tapestry Inc.’s $8.5 billion deal to buy Capri Holdings — seems uncertain.
For now, the cases in the center of the tech storm could lead to material changes in the way fashion reaches consumers, does business and powers its e-commerce.
Here’s where the legal cases stand now.
In August, a federal court ruling cast Google as “a monopolist” that acted illegally to preserve its advantage in online search. Now, according to an October court filing, the DOJ is considering “structural remedies.”
Google is an online search monopoly, according to District Court Judge Amit Mehta of the U.S. District of Columbia, who ruled against the tech giant in August. (Pictured: The world’s largest Monopoly board at the Sydney Exhibition Centre in May 2005.)
AFP via Getty Images
This could include spinning off Chrome, Android and Google Play, or prohibit the company from striking paid deals to pre-install its web browser and search engine on mobile devices. Cue massive buzz, as a startled internet mulls over the prospect of a Google breakup.
The company called it an “overreach.” But the DOJ’s not done yet. A second case brought by the department and eight states is focusing on the company’s advertising tech, and the results are still pending.
The trial in the U.S. District Court for the Eastern District of Virginia began in September. It is weighing allegations that Google sought to control the online ad market by buying up rivals and bullying publishers and advertisers into using the company’s ad platform.
It’s unclear whether the proposed breakup of Google’s tech divisions could ultimately extend to its advertising infrastructure as well. But it’s a scenario that would materially and directly impact the brands and marketers feeding the company’s growing $66 billion ad business.
Meta
The basis of the FTC’s 2020 lawsuit against Meta was that company’s acquisitions of Instagram in 2012 and WhatsApp in 2014, back when it still went by Facebook, amounted to a monopoly that left consumers with few other options.
Tech acquisitions are a way of life in Silicon Valley, so the case has far-reaching implications. Yet four years later, the argument still hasn’t been tried, while the cycle of public attention frothed and fizzled, with various starts and stops.
The first suit was dismissed in June 2021 by the U.S. District Court of the District of Columbia. The FTC accused the social media company of controlling the market, but didn’t properly define the market. In a refiling, the commission contended that Meta held “a dominant share of the relevant market for U.S. personal social networking services” since 2011.
Momentum then seemed to stall, and Meta filed an unsuccessful motion to dismiss.
In February 2024, the FTC pushed for a trial by the end of the year. Two months later, as Meta filed to get the case dismissed again, its attorneys shared doubts that a “case of this size and complexity” could move to trial by then.
Whenever it happens, the trial won’t end with a slap on the wrist for Meta if the government prevails. And if regulators succeed, it would set a precedent for the tech sector, potentially destabilizing two key channels for brands, and remake the creator economy amid a booming social commerce market that, according to Technavio, is expected to grow by $8.9 trillion over the next four years.
After the administration of former President Donald Trump first targeted the platform, the Biden administration signed off on a bill in April demanding that TikTok separate from ByteDance, its Beijing-based owner. Now, the app’s fate couldn’t be less certain.
With two months to go, the deadline for the Chinese parent company to divest the business due to national security concerns is fast approaching.
Fueled by outcry from fans and creators bemoaning the prospect of a TikTok ban, the business sued the government in May, calling the legislative action unconstitutional, as it “subjects a single, named speech platform to a permanent, nationwide ban, and bars every American from participating in a unique online community with more than one billion people worldwide.”
Since then, both presidential campaigns took up the platform, hoping to reach young voters and infuse their candidacies with relevance and cachet. More than 8 million young Americans are eligible to vote for the first time in 2024, and that’s just a segment of roughly 41 million total Gen Z voters this year.
Trump reversed course, promising to “save” the app.
Whether it can be saved, only January knows. But, as arguably fashion’s top social platform and a budding e-commerce giant in its own right, TikTok, along with its partners and massive trove of 150 million U.S. users, hopes so.
The only certainty is that these ups and downs haven’t yet seemed to hammer ByteDance cofounder Zhang Yiming — whose $49.3 billion fortune positions him at the top of the 2024 Hurun China Rich List.
Amazon tops third-quarter projections across its major business lines.
Getty Images
For Amazon, the most recent jab in the government’s anti-monopoly crusade landed in the U.S. District Court for the Western District of Washington in September. That’s when the FTC and 17 states sued the e-tailer, alleging unfair practices toward marketplace sellers, while it pushed its own services.
Those actions, which included blocking Amazon merchants from selling the same products through other sites, “artificially” ballooned prices and harmed consumers, the government argued.
Amazon denied the allegations, claiming that it offers low prices and doesn’t bully sellers. It also counterpunched, stating that the case illustrates a “fundamental misunderstanding of retail.”
Then the company issued what could be characterized as a thinly veiled threat: If the lawsuit doesn’t go Amazon’s way, it would force the company “to engage in practices that actually harm consumers and the many businesses that sell in our store” — in essence, manifesting the very reality that the FTC and states claim is already happening.
The case is scheduled to go to trial in October 2025.
Whatever the outcome, the decision will likely shape, not just the retail business of Amazon and its sellers, but the way large marketplaces operate overall.
Washington is all over Silicon Valley indeed.
Scientists have recreated the face of a 17th-century ‘vampire’ woman in Poland. credit: Skeleton of Sozopol, Sofia, wikimedia commons / Bin im Garten CC BY-SA 3.0Scientists in Poland have recreated the face of a young ‘vampire’ woman believed to have been buried centuries ago with restraints intended to prevent her from “coming back to life.”
Using advanced technology, sculptor and archaeologist Oscar D. Nilsson together with researchers from Nicolaus Copernicus University in Toruń recreated her appearance, giving the public a glimpse of what she may have looked like when she lived in the 17th century.
Bringing Zosia’s face back to life
To achieve this, scientists first created a 3D-printed model of her skull. They then carefully layered clay over it, shaping her facial features based on details like bone structure, age, and estimated ethnicity.
The reconstructed face allows viewers to see Zosia – as the researchers have named her – for the first time in hundreds of years. Archaeologist Oscar D. Nilsson, who led the process, highlighted an ironic twist: while people from her time tried everything to keep her from “returning,” today’s scientists have worked hard to bring her face back into view.
Discovery of the skeleton
Zosia’s skeleton was first discovered in a medieval cemetery in the village of Pien, Poland. Researchers found her lying in an unusual grave, with a sickle, a curved iron blade, placed across her neck, and a padlock attached to the big toe of her left foot.
Experts believe these items were placed to keep her spirit from rising, showing old superstitions and beliefs about the dead.
Professor Dariusz Poliński, who led the team, explained that the sickle was likely positioned to injure or even decapitate Zosia if she attempted to “rise.” People in those days feared certain individuals might return from the dead, which led to the use of such rituals.
The padlock fastened to her toe may have symbolized a barrier, suggesting her spirit couldn’t return. These practices, though rare, reveal how some communities in the past tried to protect themselves from the supernatural.
A woman of high status
Despite the unusual burial, Zosia’s remains included a silk cap, an expensive item that only the wealthy could afford at the time. This indicates she may have come from a high-status family.
Researchers believe she was between 18 and 20 years old when she died. They also speculate that she might have had health conditions, possibly causing fainting or severe headaches, that could have led people to misunderstand her as being different or “cursed.”
In the same cemetery, archaeologists discovered another grave, this time of a child, who was also buried with unusual measures. The child’s body was placed face down with a padlock on the foot, showing similar beliefs aimed at preventing any return from the dead.
For the first time, we’ve got a three-dimensional picture of a magnetic skyrmion. This tiny, spiraling flaw in the magnetic properties of some materials could find uses in next-gen electronics storage devices and quantum computers.
Adélie penguins can be indicators of environmental variations. Studying them in their natural environment makes it possible to monitor the impact of climate change on Antarctica, a region that is notoriously difficult for scientists to observe. But this has been made easier thanks to artificial intelligence, according to a study published in the journal PLOS…
By Cara Lee for the Daily Mail Published: 20:30 EST, 4 November 2024 | Updated: 20:55 EST, 4 November 2024
At a news conference Monday afternoon, the day before election day, several business and community leaders spoke against Issue 2, a proposed amendment to the Arkansas Constitution that would revoke a casino license for Pope County and require a countywide election for new casino licenses, in Little Rock.
Those speaking against the proposed amendment were Brad Spradlin, executive vice president of the Arkansas Chapter of the Associated General Contractors of America Inc.; Mark Beach, the president and CEO of CDI Contractors; Megan Williams, vice president of chapter development at the Associated Builders & Contractors of Arkansas; Shannon Newton, president of the Arkansas Trucking Association; and Guy Washburn, a member and past executive director of the Arkansas Asphalt Pavement Association.
After a legal battle that made its way to the Arkansas Supreme Court, it was determined in mid-October that votes on Issue 2 will be counted.
Merkado BarkadaNovember 5, 2024 | 8:10am
Philippine Business Bank [PBB 9.07, down 1.4%; 99% avgVol] [link] posted a Q3 net income of P768 million, up 178% y/y from its Q3/23 net income of P276 million, and up 47% q/q from its Q2/24 net income of P521 million. PBB’s 9M net income is up 57% to P1.8 billion. The Yao Family’s bank said that its dramatically increased performance was due to its “ability to capitalize on the high-interest rate environment”, plus “effective cost management”, and “a 50% growth of fee-based income”. PBB said that it increased its 9M net interest income by 16.1% due to its “focus on expanding its high-yielding consumer business and the continued support of the SME sector.”
MB bottom-line: This result shows that high interest rates have helped the second-tier banks as much (or more) than the top-tier banks, but unfortunately for shareholders, this boost hasn’t translated directly into the share price. Sure, PBB is up 4% YTD and around 7% over the past year, but that pales in comparison to the 89% increase for Chinabank [CBC], the ~42% increases for BPI [BPI] and Metrobank [MBT], or even the 16% increase for BDO [BDO]. As someone who does not invest in the banking industry, I’m not familiar with the mechanisms that would cause this massive discrepancy in stock performance. Are there any readers or analysts out there who are able to provide some context? If so, I’d love to share your feedback with the community!
Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.
Chinese Vice President Han Zheng, right, and Takeshi Niinami, chairman of the Japan Association of Corporate Executives, hold talks in Beijing on Nov. 4, 2024. (Kyodo) BEIJING (Kyodo) — A Japanese business delegation urged Beijing on Monday to “facilitate conditions for China visits,” apparently referring to the detention of foreign nationals over spying allegations in…